On: Luna Cryptocurrency Collapse: How UST Broke

[quickthrower2]

Surely no one through stablecoins were low risk?

[jeromegv → quickthrower2]

That’s what the whole crypto industry has been saying for years. If they didn’t think it was stable (or didn’t want you to believe it was), it wouldn’t be called stable. Millions of people at this point have been led to believe a stable coin is stable.

[rglullis → quickthrower2]

Including overcollaterized ones? They are not risk-free, but DAI has survived much worse market swings that the one from this week.

[iaabtpbtpnn → quickthrower2]

Stable is right there in the name.

[quickthrower2 → iaabtpbtpnn]

By the folks who put “safe” in safemoon.

[mechanical_bear → quickthrower2]

I am pretty bullish on crypto but Safemoon has to be one of the worst “assets” out there. Bunch of charlatans.

[berkut → quickthrower2]

lol

Apparently, you could even get 'depeg' insurance! Multiple levels of Ponzi...